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Find maximum number of new shares of common stock

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Reference no: EM132702904

A corporations charter authorizes issuance of 2,700,000 shares of common stock.? Currently, 1,300,000 shares are?outstanding, and 100,000 shares are being held as treasury stock. The firm wishes to raise $63,000,000 for a plant expansion. Discussions with its investment bankers indicate that the sale of new common stock will net the firm ?$35 per share.

-What is the maximum number of new shares of common stock that the firm can sell without receiving further authorization from? shareholders?

-Judging by the data given and your finding in part a?, do you think the firm will be able to raise the needed funds without receiving further? authorization?

-What must the firm do to obtain authorization to issue more than the number of shares found in part a??

Reference no: EM132702904

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